New Post Office Schemes this fixed deposit gives up to 8.75% return

Shriram Transport Finance Company, a Non-Banking Financial Company (NBFC) on Tuesday said that it has hiked interest rates on its fixed deposit scheme. 

Fixed deposit rates across multiple tenors have been hiked by 25-50 basis points or 0.25-0.50 per cent per annum. 

Shriram Transport Finance Company now offers a maximum interest rate of 8.25% to the general public and 8.75% to senior citizens 

The new interest rates will apply on deposit tenures between 12-60 months (1-5 years).

With the hike in fixed deposit rates by 25-50 basis points or 0.25-0.50 per cent per annum across different tenures 

According to the press release statement of Shriram Transport Finance Company, senior residents will benefit from an additional 0.50 per cent interest rate on their deposits annually.  

The company has also stated that it will also provide an additional 0.25 per cent per annum interest on any renewals of a matured fixed deposit account 

Shriram Transport Finance Company FD has been rated "[ICRA]AA+ (Stable)" by ICRA and rated "IND AA+/Stable" by India Ratings and Research, signalling a higher level of safety.